Africa’s Business Heroes Reveals Top 50 Finalists for 2024 Competition
The Africa’s Business Heroes (ABH) Prize Competition, backed by the Jack Ma Foundation and Alibaba Philanthropy, has announced its Top 50 Finalists for the 2024 edition. This year’s competition attracted a record ~20,000 applications from all 54 African countries, cementing its status as the continent’s largest and most inclusive entrepreneurial contest.
Since its launch in 2019, ABH has been committed to identifying, supporting, and spotlighting talented African entrepreneurs. Each year, the sector-agnostic competition awards $1.5 million in grants to 10 outstanding entrepreneurs. Beyond financial support, ABH offers its finalists and the broader entrepreneurial community exposure, training, mentorship, and networking opportunities.
“Over the past five years, the ABH Prize Competition has seen growth and increased participation from critical demographics, reflecting our commitment to inclusivity. This year, we are thrilled to recognize the exceptional talent and potential of the Top 50 Finalists, who embody the diverse entrepreneurial spirit of our continent,” said Zahra Baitie-Boateng, Managing Director, Africa, Africa’s Business Heroes Initiative.
The 2024 call for applications demonstrated Africa’s vibrant entrepreneurial spirit, with submissions from all corners of the continent. Female applicants reached 39%, surpassing the five-year average of 30%, and North African representation increased from 5% to 9%. The Top 50 Finalists represent 14 sectors across 18 countries, with 40% female and 20% francophone representation. Agriculture remains the most prominent sector, alongside strong showings in Education and Healthcare.
The finalists will gain access to the global ABH community, benefiting from programs designed to develop their skills and business acumen. The ABH Top 50 Virtual Bootcamp will feature capacity-building workshops led by African business leaders and members of the entrepreneurial ecosystem. Topics will include team building, leveraging AI for business productivity, digital marketing growth strategies, business planning, and investment readiness.
Finalists will also receive extensive media exposure through press releases, articles, and interviews, amplifying their business stories and successes.m
ABH will continue to showcase outstanding participants through traditional and social media channels. The competition will highlight the inspirational narratives of past finalists through its ‘Hero Stories’ series on social media. Additionally, ABH plans to launch hubs in major African cities to support entrepreneurs reshaping industries and creating global impacts.
The Top 50 Finalists will advance to Round 2 of the evaluation process. In August, the Top 20 Finalists will be announced and proceed to Cairo for the Semi-Finale after a rigorous due diligence process by PlusVC. The Top 10 Finalists will then be revealed in September and pitch at the Grand Finale in Kigali, Rwanda in early December.
